Daily Morning Note – 17 January 2018
WEEKLY MARKET OUTLOOK WEBINAR
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Archived webinars available.
Our observation: Rowsley’s Transformation into a Healthcare Player
Full update will be presented in our webinar on Monday, 22 January 2018.
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For comments and queries on this topic, please refer to www.StocksBnB.com
First Ship Lease Trust announced that the Trust has sold its chemical tanker, FSL Tokyo, for a cash consideration of US$13.8 million. FSL Tokyo is a 2006, Japanese-built, 20,938 DWT chemical tanker that has been deployed in the spot market. The net proceeds from this Disposal will be applied in full to the outstanding loan facility in 1Q2018. FSL Trust will record a related impairment charge of approximately US$9.0 million in 4Q2017
First Real Estate Investment Trust announced that HSBC Institutional Trust Services (Singapore) Limited, as trustee of First REIT has signed a mandate and commitment letter with Oversea-Chinese Banking Corporation Limited to secure up to S$400 million in syndicated secured financing facilities from the Bank
With regards to DBS Bank Ltd.’s S$1,000,000,000 3.10 per cent. Subordinated Notes due 2023 issued under the US$15,000,000,000 Global Medium Term Note Programme. DBS Bank Ltd. has elected to, and will, redeem all of the outstanding Notes on 14 February 2018. The Notes will be subsequently cancelled and then de-listed from the Singapore Exchange Securities Trading Limited pursuant to the procedures of the SGX-ST.
Source: SGX Masnet, PSR
Clients of Phillip Securities can keep updated with Country Strategy and Singapore Sector Reports by logging into: www.poems.com.sg > STOCKS > Research
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